Dimensional Fund Advisors LP Trims Stock Holdings in Ameriprise Financial, Inc. $AMP

Dimensional Fund Advisors LP trimmed its position in Ameriprise Financial, Inc. (NYSE:AMP) by 5.6% during the third quarter, Holdings Channel.com reports. The firm owned 1,011,851 shares of the financial services provider’s stock after selling 60,033 shares during the period. Dimensional Fund Advisors LP’s holdings in Ameriprise Financial were worth $497,123,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Norges Bank acquired a new stake in Ameriprise Financial during the second quarter worth approximately $693,736,000. JPMorgan Chase & Co. lifted its stake in shares of Ameriprise Financial by 7.7% during the 2nd quarter. JPMorgan Chase & Co. now owns 6,270,995 shares of the financial services provider’s stock worth $3,347,019,000 after purchasing an additional 446,080 shares during the period. Federated Hermes Inc. boosted its holdings in shares of Ameriprise Financial by 29.3% during the third quarter. Federated Hermes Inc. now owns 966,163 shares of the financial services provider’s stock worth $474,628,000 after purchasing an additional 219,080 shares during the last quarter. Close Asset Management Ltd grew its position in shares of Ameriprise Financial by 78.2% in the third quarter. Close Asset Management Ltd now owns 463,149 shares of the financial services provider’s stock valued at $227,652,000 after purchasing an additional 203,252 shares during the period. Finally, Hsbc Holdings PLC increased its stake in Ameriprise Financial by 29.8% in the second quarter. Hsbc Holdings PLC now owns 491,058 shares of the financial services provider’s stock valued at $262,075,000 after purchasing an additional 112,784 shares during the last quarter. 83.95% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CFO Walter Stanley Berman sold 7,000 shares of the stock in a transaction that occurred on Thursday, February 5th. The stock was sold at an average price of $544.22, for a total transaction of $3,809,540.00. Following the sale, the chief financial officer directly owned 5,609 shares in the company, valued at approximately $3,052,529.98. This represents a 55.52% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Gumer Alvero sold 4,658 shares of the stock in a transaction on Monday, February 9th. The stock was sold at an average price of $542.88, for a total value of $2,528,735.04. Following the completion of the sale, the insider directly owned 4,621 shares in the company, valued at $2,508,648.48. This represents a 50.20% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 16,658 shares of company stock worth $8,998,675 over the last ninety days. 0.73% of the stock is owned by insiders.

Ameriprise Financial Price Performance

Shares of AMP stock opened at $469.08 on Thursday. The company has a market capitalization of $42.77 billion, a PE ratio of 12.90, a price-to-earnings-growth ratio of 1.09 and a beta of 1.27. The firm has a fifty day simple moving average of $497.26 and a 200-day simple moving average of $487.61. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 0.86. Ameriprise Financial, Inc. has a twelve month low of $396.14 and a twelve month high of $550.18.

Ameriprise Financial (NYSE:AMP) last announced its earnings results on Thursday, January 29th. The financial services provider reported $10.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $10.33 by $0.50. Ameriprise Financial had a return on equity of 63.04% and a net margin of 19.28%.The business had revenue of $4.92 billion for the quarter, compared to analyst estimates of $4.75 billion. During the same period in the previous year, the company earned $9.54 earnings per share. The company’s revenue for the quarter was up 10.2% compared to the same quarter last year. Equities research analysts anticipate that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current fiscal year.

Ameriprise Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 27th. Investors of record on Monday, February 9th were given a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a dividend yield of 1.4%. The ex-dividend date of this dividend was Monday, February 9th. Ameriprise Financial’s dividend payout ratio is currently 17.60%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on AMP. BMO Capital Markets restated a “market perform” rating on shares of Ameriprise Financial in a report on Tuesday. Raymond James Financial set a $582.00 target price on shares of Ameriprise Financial and gave the company a “strong-buy” rating in a report on Wednesday, February 11th. Morgan Stanley increased their price target on shares of Ameriprise Financial from $484.00 to $485.00 and gave the stock an “underweight” rating in a research note on Monday, December 22nd. Royal Bank Of Canada reiterated an “outperform” rating and issued a $605.00 price target (up from $580.00) on shares of Ameriprise Financial in a report on Monday, February 2nd. Finally, Piper Sandler upgraded Ameriprise Financial from an “underweight” rating to a “neutral” rating and upped their price objective for the stock from $434.00 to $530.00 in a report on Friday, January 30th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $555.67.

Ameriprise Financial Profile

Ameriprise Financial, Inc is a diversified financial services company headquartered in Minneapolis, Minnesota. The firm provides a range of advice-based wealth management, asset management and insurance products to individual and institutional clients. Its business model centers on delivering financial planning and investment advice through a network of financial advisors alongside proprietary product offerings designed to meet retirement, protection and accumulation needs.

Core products and services include comprehensive financial planning and advisory services, managed investment portfolios, retirement planning solutions, annuities and life insurance products.